Snowflake Inc. (SNOW) Goldman Cuts Price Target

Goldman Sachs lowered its 12-month price target on Snowflake (SNOW) to $246 from $286 per share, while maintaining its Buy rating. The reduction in the valuation forecast, reflects multiple compressions across the high-growth software sector, more conservative assumptions around near-term consumption growth, and a moderation in forward revenue estimates amid continued enterprise optimization of cloud spending.

Despite trimming the valuation framework, Goldman’s decision to reiterate the Buy rating signals continued conviction in Snowflake’s long-term competitive positioning. The firm continues to view Snowflake as a structural beneficiary of enterprise data consolidation, AI workload expansion, and growing demand for scalable, cloud-native analytics infrastructure.